Price for Cycles; Parts Thereof, Saddles in Ghana - 2022

Price for Cycles; Parts Thereof, Saddles in Ghana (CIF) - 2022

In 2022, the average cycles; parts thereof, saddles import price amounted to $2.4 per unit, increasing by 12% against the previous year. Over the period under review, the import price posted resilient growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by 252%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($34 per unit), while the price for China ($2.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+40.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Imports of Cycles; Parts Thereof, Saddles in Ghana

In 2022, overseas purchases of cycles; parts thereof, saddleses decreased by -7.1% to 1.2M units, falling for the second year in a row after two years of growth. In general, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 4,440% against the previous year. As a result, imports attained the peak of 1.3M units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, cycles; parts thereof, saddles imports rose modestly to $2.9M in 2022. Overall, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 2,474% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.